Presumptive tax if salary with business income is more than 50 lakhs
This query is : Resolved
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13 July 2022
I have 49 lakhs as professional income (194jb) in my traces and 4 lakhs as salary income(192).
Can I use presumptive taxation so that my gross income will be 24.5 lakhs+4. Am I required to keep a book of accounts.
Can I use presumptive taxation so that my gross income will be 24.5 lakhs+4. Am I required to keep a book of accounts.
14 July 2022
Yes, you are eligible for presumptive assessment u/s. 44ADA, as your professional income is below Rs. 50 lakhs.
14 July 2022
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